/ Stake Sale In Kenstar To Help Videocon Reduce Debt ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 5 January 2017

Videocon Industries limited is likely to sell its stake in Kenstar, its premium brand. The clarification on the same is sought from the company. The company is said to have kicked off with the process of selling majority stake in the home appliance maker, Kenstar.

Other electronic majors like Havells, Bajaj Electricals, Symphony or even Advent may acquire the said stake. Videocon Industries may use the proceeds of stake sale for debt reduction, wherein the consolidated borrowings for FY16 stand at Rs 47553.97 crores.

Company has reported a net loss of Rs 2186 crore; and a de-growth of 32.5% in revenues in FY16. Moreover, company’s FY16 Debt to Networth is 5.8x with low interest coverage of just 0.3x, which suggests poor financial stability for now. Videocon Industries is in downtrend since 2007 and is in a consolidation phase since February 2016.
For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717